Piramal Capital & Housing Finance Announces the Launch of its Housing Finance Business in Nashik

25+ start-ups and 6,000 angel investors sharp-focusing on the city

726 MahaRERA registered projects in Nashik city out of 904 new and ongoing projects in Nashik

₹2,200 Crore as an estimated cost to turn Nashik into a Smart City

Nashik, 31st August 2018:CREDAI Nashik Metro & ANAROCK Property Consultants released a research report on Nashik: Land of Opportunities at the Capital Connect event held today in collaboration with Piramal Capital & Housing Finance. The report findings state that Nashik is emerging as a favoured investment destination.

The report focuses on Nashik’s immense potential as an exciting new destination for domestic and global businesses. In addition, Mr Jijina formally announced the launch of the housing finance business of Piramal Capital & Housing Finance in Nashik.

Mr Khushru Jijina, Managing Director – Piramal Capital & Housing Finance Ltd. Said, “Nashik exhibits tremendous potential as a promising new investment destination in North Maharashtra. We are delighted to announce the launch of our housing finance offering in Nashik – which marks our strategic foray into selective non-metro markets. Our launch is aligned with our established strategy of expanding our presence in centres where there is a growing demand for home loans and construction finance.”

Mr Sunil Kotwal, President, CREDAI Nashik said, “Nashik is a city of many potentials and has great opportunities. This fact has once again been emphasised by the report on Nashik released by ANAROCK today. The present times are also very favourable to make Nashik shine and make it a city of glory. CREDAI Nashik Metro has been consistently making efforts to make Nashik a liveable city with a vibrant economy.

Today’s programme ‘Capital Connect’ is a step in this direction and I thank ANAROCK for its report and Piramal Capital & Housing Finance Ltd for taking a keen interest in Nashik and standing strong to support real estate finance.

CREDAI Nashik Metro is committed to working for its fraternity and the city and has plans to hold such programmes through the next two years to give direction and chart the growth map of Nashik. We plan to do this by taking all the various sectors in Nashik together.”

Nashik’s attractiveness as a residential end-user and investment destination is not hard to gauge. In the recent Ease of Living index, the city ranked higher than many prominent tier II cities such as Nagpur, Kochi, Jaipur and even metropolitan cities such as Ahmedabad and Hyderabad.

Nashik has also been one of the forerunners of RERA integration and adoption, with as many as 726 housing projects in Nashik city alone registered under MahaRERA.

The report takes a close look at Nashik’s transformation from a pilgrimage destination to a vibrant city in the light of new infrastructure development, and confirms that the city has surpassed several others on a number of critical vectors which directly influence real estate viability:

It has overtaken Ahmedabad, Bhubaneshwar, Coimbatore, Hyderabad, Nagpur and even Thane and Navi Mumbai in terms of mixed land-use, compactness and wastewater management

In terms of inclusive development, the city has significant access to affordable housing when compared to cities like Coimbatore, Nagpur and Kochi

Nashik is becoming a major IT-ITeS start-up hub, with over 25+ start-ups and 6,000 angel investors sharp-focusing on the city

Overall, the residential property prices in Nashik rose by ~13% from 2016-2017, and all market indicators are towards sustained growth.

With a fully-operational RERA ensuring that the city sees systematic residential development going forward, a plethora of advantages in terms of Government initiatives and infrastructure projects, and well-conceived plans to becoming an outstanding Smart City, Nashik’s real estate market is indeed poised for a quantum jump.